Facebook leases 11-story Block 16 in Bellevue’s Spring District

by Ashley Stewart | January 28, 2019 | Puget Sound Business Journal

Facebook Inc. leased the 11-story Block 16 office building in Bellevue’s Spring District, according to a document title “memorandum of lease” obtained by the Business Journal through King County records.

Facebook viewed the space and was considering a lease as early as August, the Business Journal reported at the time based on a technology industry source and two commercial real estate sources.

Facebook signed a 13-year lease for the development’s Block 16 on Dec. 7 with an affiliate of developer Wright Runstad & Co., according to the document. Facebook confirmed the lease and said it took 338,000 square feet, which would be the entire building according to the development’s website. The lease has an option to renew for seven years and an additional option for five years.

Wright Runstad President Greg Johnson and The Broderick Group, which is leasing the Spring District, declined to comment.

The 36-acre Spring District development east of downtown Bellevue will eventually have 5.3 million square feet of office, residential and retail space. The Spring District is still under construction and office space will be completed in 2020.

Facebook previously leased at least 132,000 square feet in Bellevue across three towers. Sources told the Business Journal in 2018 that Facebook signed the three leases as temporary space while the Spring District is developed.

Meanwhile, according to sources, Facebook is leasing an additional more than 1.1 million square feet in South Lake Union. It is also planning to build a 650,000-square-foot “Building X” campus in Redmond.

If Facebook realizes all of the real estates plans the Business Journal has reported in recent months in Bellevue and elsewhere in the Seattle-area, the company would have 4 million square feet of office space and would become the fourth-largest office tenant in the region, behind Amazon.com, Microsoft Corp. and Boeing.

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